Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2354 Michigan Ave Pensacola, FL 32526-2300

    • Auto shops
    • 2,857 SF
    • 0.52 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0503638
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • 11th Hour Garage / Auto Repair Shop
    • Flatspin Motorsports / Auto Repair Shop
    • Harley's Automotive & Performance Llc / Auto Repair Shop
    • MFM Performance / Auto Repair Shop / Auto Parts Store

    Property Details for 2354 Michigan Ave

    Year built
    1987
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.52 lot acres
    Property size
    2,857 SF
    Zone code
    COM
    Property type
    Auto shops
    APN
    43-1S-30-1101-005-001
    APU
    431S301101005001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.2802
    Latitude
    30.4611
    CBSA code
    37860
    CBSA name
    PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,542
    $0.00
    $0.00
    $182,155
    -
    $84,219
    $97,936
    $182,155

    Comparable in this City

    • Value Estimation by Request
      1,400 SF

      7470 Jamesville Rd

      AUTO REPAIR, GARAGE • 1,400 SF
      7470 Jamesville Rd, Pensacola, FL 32526-4328
      View Details
    • Value Estimation by Request
      3,348 SF

      7200 Mobile Hwyblk

      AUTO REPAIR, GARAGE • 3,348 SF
      7200 Mobile Hwyblk, Pensacola, FL 32526-8591
      View Details
    • Value Estimation
      $1,130,000
      4,506 SF

      6658 Mobile Hwy

      AUTO REPAIR, GARAGE • 4,506 SF
      6658 Mobile Hwy, Pensacola, FL 32526-1265
      View Details
    • Value Estimation by Request
      1,600 SF

      6615 Mobile Hwy

      AUTO REPAIR, GARAGE • 1,600 SF
      6615 Mobile Hwy, Pensacola, FL 32526-1264
      View Details
    • Value Estimation
      $1,130,000
      11,488 SF

      6691 Mobile Hwy

      AUTO REPAIR, GARAGE • 11,488 SF
      6691 Mobile Hwy, Pensacola, FL 32526-1264
      View Details
    • Value Estimation by Request
      2,859 SF

      3250 Michigan Ave

      AUTO REPAIR, GARAGE • 2,859 SF
      3250 Michigan Ave, Pensacola, FL 32526-1852
      View Details

    Similar Nearby for Sale

    • $12,000,000
      17,183 SF

      Pensacola Mixed-Use Investment

      High-yield daycare, gas, & store
      3811 Nine Mile Rd, Pensacola, FL 32526
      View Details
    • $825,000
      3,755 SF

      Prime Pensacola Retail Corner

      High-traffic location, 3,755 SF building, redevelopment potential.
      7850 Pine Forest Rd, Pensacola, FL 32526
      View Details
    • $1,400,000
      1,000 SF

      Prime Pensacola Gas Station

      Profitable gas station, 1-acre lot, high traffic area.
      7110 Pine Forest Rd, Pensacola, FL 32526
      View Details
    • $340,000
      1,639 SF

      Versatile Commercial/Residential Property For Sale

      Well-maintained 1,639 sq ft property with HDMU zoning.
      7103 Mobile Hwy, Pensacola, FL 32526
      View Details
    • $749,000
      3,755 SF

      Corner Property Near Interstate 10

      Commercially zoned property suitable for retail, office, or redevelopment.
      7850 Pine Forest Rd, Pensacola, FL 32526
      View Details
    • $1,585,000

      Income-Producing Commercial Property For Sale

      Commercial property with restaurant and duplex on Pine Forest Road.
      7445 Pine Forest Rd, Pensacola, FL 32526
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,500 SF

      Pensacola Retail Space: 3,500 SF

      Prime Pensacola retail space, high traffic location.
      6705 Pine Forest Rd, Pensacola, FL 32526
      View Details
    • $1,875 /Mo
      1,500 SF

      Retail Space on Pine Forest

      1,500 SF retail space available near Interstate 10.
      7841 Pine Forest Rd, Pensacola, FL 32526
      View Details
    • $15 SF/Yr
      30,000 SF

      Westgate Village Office Suites

      Pensacola, FL Office Space Available
      2400 Michigan Ave, Pensacola, FL 32526
      View Details
    • $18 SF/Yr
      1,600 SF

      Prime Pensacola Retail Space

      1600 SF Retail Suite - NNN Lease
      6705 Pine Forest Rd, Pensacola, FL 32526
      View Details
    • $18 SF/Yr
      1,100 SF

      Pensacola Retail Space - 1100 SF

      High-traffic corner retail space available.
      5998 Saufley Field Rd, Pensacola, FL 32526
      View Details
    • $18 SF/Yr
      64,940 SF

      Pine Forest Corners Retail Space

      Prime Pensacola retail space, multiple units available.
      6705 Pne Frst Rd, Bellview, FL 32526
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2354 Michigan Ave
    Pensacola, FL 32526-2300
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.